News
ING Bank fills reverse inquiry guaranteed demand for A$925 million E-mail
ING Bank Australia (ING Bank) (A+) has taken advantage of late demand for government guaranteed paper in Australia to place a trio of transactions in advance of the guarantee’s expiry at the end of March. Most recently, the issuer added A$150 million (US$137.16 million) to its August 2013 line in a UBS Investment Bank-led deal that priced at 22 basis points over swap on March 10.
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Last Updated on Wednesday, 10 March 2010 15:40
 
Kiwibank to issue NZ$100 million of tier one perpetuals E-mail
In a March 10 announcement, Kiwibank (AA-) said it was “considering” making an offer of up to NZ$100 million (US$70.55 million) – with room for an upsize of up to a further NZ$50 million – of perpetual callable preference shares, which will provide the bank with tier one capital. Market sources say the transaction is likely to open in April with ANZ as lead arranger.
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IFC back in Australasia with Kauri pricing and more Kangaroo capacity [UPDATED] E-mail
Following a near four-month absence from Australian and New Zealand markets, on March 9 International Finance Corporation (IFC) (AAA/Aaa) added the pricing of a new five-year Kauri transaction to the A$1.1 billion (US$1 billion) new 2015 maturity Kangaroo it priced on March 3. The Kauri deal was for NZ$275 million (US$193.44 million) of March 2015 paper, and sold at a margin of 35 basis points to five-year government bonds or around 22 basis points over swap.
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Last Updated on Wednesday, 10 March 2010 12:39
 
ME Bank gets A$673 million in first AOFM serial RMBS investment deal E-mail
The Australian Office of Financial Management (AOFM)’s programme of serial investment in residential mortgage-backed securities (RMBS) deals commenced on March 5 as the government debt agency supported a A$673 million (US$606.04 million) issue from ME Bank. Under the serial investment scheme, AOFM will buy up to half the top-rated securities in a run of RMBS deals from five approved issuers.
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Last Updated on Friday, 05 March 2010 18:02
 
Three sectors firing as Australian FI issuance kicks off E-mail
A revival of the Kangaroo market for financial institutions (FIs) and 2010’s second domestic benchmark for a big four Australian issuer joined the continuing flow of guaranteed deals for smaller issuers as bank bond flow ramped up significantly through the week. On March 5, HSBC Bank (HSBC) (AA/Aa2/AA) priced the second FI Kangaroo in two days – and the third in three years – with its A$1.5 billion (US$1.35 billion) 2015 maturity.
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IADB taps into long-dated demand for fourth Kangaroo of 2010 E-mail
Inter American Development Bank (IADB) (AAA/Aaa) completed pricing on a A$375 million (US$338.1 million) increase to its August 2019 Kangaroo issue on March 4. The deal – IADB’s fourth Kangaroo transaction of the year – brings the total outstanding in the issuer’s 2019 line to A$1.1 billion out of its total A$5.95 billion in the Kangaroo market.
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